Astana ranks 66th in the Global Financial Centres Index

International Business News – Astana, the capital of Kazakhstan, quickly improved 45 points to 621 in the index of the Global Financial Center Index (GFCI), moving up 8 places in the ranking of the world’s largest financial centers, according to the survey data of the consulting firm Z/Yen Group Ltd. that calculates the GFCI index, Interfax news agency said. In the September 2022 ranking, Astana was ranked 66th and in March it was ranked 74th (576 points). Almaty was ranked 89th (598) in September, six months after the city was ranked 75th (574). The Global Financial Center Index is updated every six months.

New York again took first place, after the country overtook London in the rankings four years ago and has been in the lead ever since. Compared to the previous edition of the rankings, New York leads with 760 points, while London has increased by five points to 731. Singapore dropped out of the top three, with Hong Kong in fourth place, just five points away from London. San Francisco is fifth, Shanghai is sixth, Los Angeles is seventh, Beijing is eighth, Shenzhen is ninth and Paris is tenth. Sydney soared 10 places in this ranking to 13th, and Berlin soared 16 places and is now in 26th place.

The largest drop in the index was in Jakarta, which slipped 26 spots to rank 95th. Among the previously leading cities, Tokyo disappointed, dropping seven spots to 16th.

Moscow moved up from 51st to 73rd, and St. Petersburg slipped 17 spots to 114th due to sanctions against Russia.

A total of 119 cities participated in the rating this time.

When respondents were asked which financial centers were expected to increase their influence in the next two to three years, Seoul, Singapore and Gujarat were most frequently cited.

The World Financial Center Index was first published in 2007 and is updated every six months (the current edition is 32 consecutive issues). The latest ratings are based on a survey of more than 11,900 respondents.